Quiz
Topic 3
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Questions in this quiz (20)
1The budget or schedule that provides necessary input data for the direct labor budget is the
- ARaw materials purchases budget
- BProduction budget
- Cschedule of cash collections
- Dcash budget
2Which of the following budgets are prepared before the sales budget
- AChoice A
- BChoice B
- CChoice C
- DChoice D
3The excess or deficiency of cash available over disbursements on the cash budget is calculated as follows
- AThe beginning balance less the expected cash receipts less the expected cash disbursements.
- BThe cash available less the expected cash receipts plus the expected cash disbursements.
- CThe beginning balance plus the expected cash receipts less the expected cash disbursements.
- DNone of these
4What are the 3 ways that Activity Based Costing differs from Traditional Costing?
- AABC assigns both types of costs to products
- BABC does not assign all manufacturing costs to products
- CTraditional Costing is more precise
- DABC uses more cost pools
5In ABC both manufacturing and non manufacturing costs are assigned to products (only on cause-and-effect basis).
- ATrue
- BFalse
6ABC assigns ALL manufacturing and ALL non manufacturing costs.
- ATrue
- BFalse
7An event that causes the consumption of overhead resources.
- ACosting
- BActivity
- CBudgeting
- DPlanning
8A "cost bucket" in which costs related to a single activity measure are accumulated.
- AActivity
- BCosting
- CCost pool
- DBudget
9An allocation base in an activity-based costing system.
- AActivity Cost Pool
- BLabor Hours
- CActivity Measure
- DCost system
10Simple count of the number of times an activity occurs
- ATransaction driver
- BDuration driver
11A measure of the amount of time needed for an activity
- ATransaction driver
- BDuration driver
12Activity Based Costing relies only on allocation bases that are driven by the volume of production
- ATrue
- BFalse
13providing power to run processing equipment would be a(n)
- AUnit-Level Activity
- BBatch-Level Activity
- CCustomer-Level Activity
- DOrganization-sustaining Activity
- EProduct-Level Activity
14setting up equipment and shipping customer orders are
- AUnity-Level Activity
- BBatch-Level Activity
- CCustomer-Level Activity
- DOrganization-sustaining Activity
- EProduct-Level Activity
15designing or advertising a product would be:
- AUnit-Level Activity
- BBatch-Level Activity
- CCustomer-Level Activity
- DOrganization-sustaining Activity
- EProduct Level Activity
16sales calls and catalog mailings would be
- AUnity-Level Activity
- BBatch-Level Activity
- CCustomer-Level Activity
- DOrganization-sustaining Activity
- EProduct-Level Activity
17heating a factory and cleaning executive offices are
- AUnit-Level Activity
- BBatch-Level Activity
- CProduct-Level Activity
- DOrganization-sustaining activity
- ECustomer-Level Activity
18What is not a reason that companies may not use ABC for external reporting?
- AExternal reports are less detailed than internal reports
- Bit may be difficult to make changes to the company's accounting system
- CABC does not conform to GAAP (therefore 2 systems would be required)
- DAuditors may be suspect of the subjective allocation process based on interviews with employees
- ECosts are made less accurate
19Ordinarily cover a one-year period corresponding to a company’s fiscal year. Many companies divide their annual budget into four quarters
- AOperating Budget
- BPerpetual Budget
2012-month budget that rolls forward one month (or quarter) as the current month (or quarter) is completed. This approach keeps managers focused on the future at least one year ahead.
- AOperating budget
- BPerpetual budget
Information
- Description
- 202 accounting Quiz on Topic 3, created by stevensae on 04/05/2015.
- Author
- stevensae
- Language
- English
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- 33
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